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Hot Pursuit News

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(19 Jun 2024, 15:05)

SBI board OKs to raise upto Rs 20,000 cr via bonds

State Bank of India announced that its board has approved to raise funds upto Rs 20,000 crore through long term bonds.

The funds may be raised through public issue or private placement during financial year 2025.

State Bank of India (SBI) is an Indian multinational, public sector banking and financial services statutory body. As of 31 March 2024, the Government of India held 57.49% stake in the bank.

The largest PSU bank’s standalone net profit grew 23.98% to Rs 20,698.35 crore on 20.11% rise in total income to Rs 1,28,411.88 in Q4 FY24 over Q4 FY23.

The scrip rose 0.88% to currently trade at Rs 852 on the BSE.

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